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Write the percentage (in whole figures) of total income attributable to non-members at A Percentage of non-member income item 15.
Common errors: percentage shown incorrectly or item left blank
There are two main errors:
- showing an incorrect percentage
- not writing any percentage.
Consequence of these errors
Errors in item 15 could lead to your organisation:
- paying an incorrect amount of tax
- being inappropriately selected for audit.
The percentage of non-member income is the total non-member income divided by the total income, multiplied by 100.
The percentage entered at this item differs to the percentage calculated by the Waratahs formula where:
- total income includes non-member income such as bank interest
- more than one method of apportionment has been used.
Last modified: 20 Jul 2015QC 26072
For an explanation of the Waratahs formula, see Waratahs formula in Mutuality and taxable income.
End of further information